Term
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Definition
| a plan for managing money during a period of time, somtimes called a "spending/savings plan" |
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Term
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Definition
| money coming in. usually considered money from a job but allowance and gifts are also included |
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Term
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Definition
total amount of income from your wages before payroll deductions
rate per hour multiplied by the hours you work |
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Term
| what are payroll deductions |
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Definition
| these are the amounts subtracted from your gross income , which results in your net income. common ones are taxes, health insurance, retirement savings etc. |
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Term
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Definition
| fees placed on income property, and goods to support government programs |
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Term
| what is federal income tax |
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Definition
| it is a fee for the support of federal government programs and is a payroll deduction collected by the internal revenue services (IRS) |
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Definition
| Most states have this. it is sbtracted from your pay check each pay period. it is a fee collected by your employer and paid to the state revenue department to support state programs |
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Term
| what is social security tax |
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Definition
| this was established under the FICCA act which means the federal insurance contributions act.provides benifits to old age, suvivors, and disability insurance |
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Definition
| fund hospital insurance programs and also pays health benifits to the elderly and the disabled |
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Term
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Definition
| once you subtract all the necesary deductions you are left with yout net income or your "take home money" |
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Term
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Definition
| money you spaend on your needs and wants, there are two types of expenses fixed and variable |
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Term
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Definition
| set daollar amount- each payment is the exact same amount. examples are gas, eating out, entertainment |
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| what are variable expenses |
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Definition
| these are expenses as where the price may change |
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Term
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Definition
| how you handle money coming in and money going out |
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Term
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Definition
| a synonym for pay yourself first |
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| what are some ways to stretch your dollars |
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Definition
| e-bay, selling things online through auction, coupons, whole sale-BJ's-costcos-sams club |
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Term
| what are some ways to figure out if your getting the best prices |
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Definition
shop around, go to diffrent places
talk to a |
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